Within his recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, he chose that unorthodox economist Varoufakis as his finance minister largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal agenda which involved advancing Varoufakis's books and testing out his economic models using the nation rather than genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only the country's future but also those punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras further claimed that his confrontational style left him more and more alone among peers, endangered the country, while helped hawks who were advocating Grexit.
This retelling of events has been met with anger and shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
